DP World publishes prospectus in connection with its application
DP World Limited (‘DP World’ or ’the Company’), one of the largest marine terminal operators in the world, is pleased to announce that it has today published its Prospectus containing details of the admission of Ordinary Shares to listing on the Official List and to trading on the main market of the London Stock Exchange. It is anticipated that, subject to the approval of the UK Listing Authority, the first day of trading will be Wednesday 1 June 2011.
DP World believes that a dual listing between the London Stock Exchange and Nasdaq Dubai will help attract a broader range of investors.
DP World’s operational performance has been very strong since listing in 2007, outperforming the industry, in part because 75% of its container volumes come from the faster growing emerging markets led by a strong performance in flagship terminal Jebel Ali in the UAE.
On 11 May 2011, DP World announced that the return to sustained container volume growth which was seen in 2010 had continued into the current year. In the first quarter of 2011, gross volumes grew by 12% to 12.6 million TEU across its 49 operational terminals.
With a track record of over three years as a listed Company, DP World already supports Corporate Governance standards that are required for a Premium listing on the London Stock Exchange.
Sultan Ahmed Bin Sulayem, Chairman, DP World, commented: “We are delighted that DP World will be listed on the London Stock Exchange from 1 June 2011 providing access to its shares for a larger number of investors. As the only listed global port operator, DP World provides investors with a unique opportunity to invest in the long term growth opportunities in the industry, exposure to faster growing emerging markets and to invest in a Company at the heart of global trade.”
Mohammed Sharaf, Chief Executive Officer, DP World, commented: ‘‘The listing on the London Stock Exchange is a major milestone in the evolution of DP World positioning us alongside some of the world’s leading companies, and we very much look forward to the opportunities that may bring.”
We began life as a local port operator with our first project, the development of Dubai’s Port Rashid, in 1972. Seven years later we opened Jebel Ali Port, the busiest port outside of Asia and a facility that has propelled us on our journey to becoming a leading enabler of global trade.
Buy credits to publish your articles on Al Bawaba Biz here